First Majestic Silver Corp. (NYSE:AG) Given Consensus Rating of “Hold” by Brokerages

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been assigned a consensus recommendation of “Hold” from the three ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.50.

Several brokerages have recently commented on AG. National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a research report on Wednesday. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. TD Securities upgraded First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st. Finally, Scotiabank reissued a “sector perform” rating and set a $6.00 target price on shares of First Majestic Silver in a report on Wednesday, April 2nd.

First Majestic Silver Trading Down 2.7 %

Shares of AG stock traded down $0.15 during mid-day trading on Monday, reaching $5.43. The company’s stock had a trading volume of 8,470,144 shares, compared to its average volume of 11,398,959. The company’s 50 day simple moving average is $6.04 and its 200-day simple moving average is $6.20. The firm has a market capitalization of $2.63 billion, a PE ratio of -15.53 and a beta of 0.97. First Majestic Silver has a 12-month low of $4.43 and a 12-month high of $8.44. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm had revenue of $172.34 million during the quarter, compared to analysts’ expectations of $227.77 million. On average, research analysts predict that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.0057 dividend. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, February 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.42%. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AG. Allworth Financial LP boosted its holdings in shares of First Majestic Silver by 805.4% during the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock valued at $29,000 after acquiring an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in First Majestic Silver in the 4th quarter worth about $55,000. Bank of Nova Scotia bought a new position in First Majestic Silver in the 4th quarter worth about $57,000. Captrust Financial Advisors acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $58,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of First Majestic Silver during the third quarter valued at approximately $70,000. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.